Two-year-old Snabbit posted a Rs 168 crore loss in FY26 on operating revenue of Rs 12.25 crore, pointing to the steep costs of building an on-demand home services business. Yet the losses are not unique to Snabbit: rivals Urban Company’s InstaHelp and Pronto are also spending heavily to scale, as players race to build demand and establish leadership.
Snabbit’s revenue from operations stood at Rs 12.25 crore in FY26, compared with Rs 26 lakh in FY25, according to its annual financial statements sourced from the Registrar of Companies (RoC).
Founded in 2024 by Aayush Agarwal, Snabbit is an on-demand home services platform that connects households with trained professionals for tasks such as cleaning, dishwashing and laundry. Users can book professionals by the hour, with the platform promising service within 10 minutes.
Platform services contributed Rs 10.82 crore, or 88% of its operating revenue, while the remaining amount came from the sale of uniforms.
The company also earned Rs 14.76 crore in other income, mainly from interest on bank deposits. Snabbit earned more from interest on its bank deposits than from its core operations. This has been common among consumer internet businesses in their early years, as they navigate intense competition and invest in growth.
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On the cost side, employee benefits accounted for Rs 46 crore, while expert service costs stood at Rs 63 crore. Snabbit spent another Rs 49 crore on marketing and Rs 23.8 crore on service fulfilment. Banking charges, commissions, recruitment, legal expenses, software maintenance and other overheads pushed its total expenses to Rs 195 crore in FY26 from Rs 6.8 crore in FY25.
Heavy spending on customer acquisition, workers and service delivery pushed its net loss to Rs 168 crore in FY26 from Rs 5.7 crore in the previous fiscal year. At the unit level, Snabbit spent Rs 15.92 to earn every rupee of operating revenue.
Given how new the category is, traditional profitability metrics may not tell the entire story at this stage. However, Snabbit reported a negative return on capital employed (ROCE) of 58.45% and an EBITDA margin of -1481.63% in FY26.
Snabbit has raised over $112 million, including a$56 million Series D round from Susquehanna VC, Mirae Asset Venture Investments and Bertelsmann India Investments.
The startup has reported growing demand. It said it crossed 115,000 fulfilled jobs in a day and completed four million jobs in househelp during Q1 FY27. Burn per job declined by more than Rs 100 quarter-on-quarter to below Rs 250.
Snabbit founder Aayush Agarwal said FY26 was the company’s first full year of operations. It scaled from around 500 daily jobs across eight micro-markets at the start of the year to 35,000 daily jobs across more than 100 micro-markets by year end, a 75X increase in daily jobs. The company also acquired nearly one million customers and onboarded over 20,000 experts.
Agarwal said the Rs 167.8 crore loss reflected investments in expansion, customer and expert acquisition, and long-term capabilities. He added that “FY26 financials do not reflect current economics”, citing improvements in operating leverage and unit economics as the business built density across neighbourhoods.
Snabbit is not alone in turning household chores into a quick-commerce-style business. Urban Company’s InstaHelp completed around 1.9 million orders in July 2026, ahead of Snabbit’s 1.85 million, while Pronto crossed 1.25 million bookings.
The competition is also forcing established firm Urban Company to invest in quick home services and it has been looking to raise$200 million, while Snabbit and Pronto continue to expand.
For now, the companies are racing to win customers, build their workforce and fulfil orders faster. The key question is how long they can sustain heavy spending before the business pays for itself. Until then, the market may see more funding, higher order volumes and continued losses.
The quick home services market is entering a phase where scale alone may not translate into a durable advantage. Faster fulfilment and repeat usage can help build customer habits, but the economics will depend on whether platforms can improve worker utilisation, reduce acquisition costs and generate enough bookings within each neighbourhood to absorb fixed costs. The next test is not simply who captures demand first, but who can turn that demand into a sustainable business without relying on repeated funding rounds.